Combined system capabilities to be featured at
Association of the United States Army (AUSA) annual meeting October
14-16, 2024
Palladyne AI Corp. (NASDAQ: PDYN and PDYNW) (“Palladyne AI”), a
developer of artificial intelligence software for robotic platforms
in the defense and commercial sectors, and Red Cat Holdings, Inc.
(NASDAQ: RCAT) (“Red Cat”), a drone technology company integrating
robotic hardware and software for military, government, and
commercial operations, today announced a partnership intended to
enhance the autonomous capabilities of all Red Cat’s Teal drones
using Palladyne AI’s Pilot software.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20241001521464/en/
Red Cat and Palladyne AI Partner to Embed
Artificial Intelligence into Teal Drones to Enable Autonomous
Operation (Photo: Business Wire)
Leveraging its years of innovative development work for U.S.
Government customers, Palladyne AI is developing an artificial
intelligence platform for unmanned systems to enable persistent
detection, tracking, and classification of objects of interest by
synthesizing multi-modal sensor fusion data in real-time. The AI
product for mobile systems, known as “Palladyne™ Pilot”, will
facilitate shared situational awareness across multiple drones and
autonomous navigation when integrated with drone autopilot systems.
Palladyne Pilot is expected to be made available for all Teal
drones, including those already in the field.
Palladyne AI’s artificial intelligence software platform is
designed to train and enhance the effectiveness of autonomous,
mobile, stationary and dexterous robots. Teal has developed a drone
system comprised of two robotic UAVs and related control systems
that have earned Blue UAS Certification by the U.S. Department of
Defense. The partnership will expand the drone system capabilities,
facilitating the creation of a network of collaborating drones and
sensors that self-orchestrate to provide superior intelligence,
surveillance, and reconnaissance capabilities.
“Red Cat’s partnership approach to delivering the best in class
solutions has earned them recognition and certification from the
U.S. Department of Defense for their drone systems,” said Ben
Wolff, CEO, Palladyne AI. “We are honored to team with Red Cat to
offer advanced and effective technology for aerial intelligence
needs for defense, public safety, and commercial operations in
challenging environments.”
“Palladyne AI is enabling cost-effective small drone platforms
that incorporate some of the same autonomy capabilities typically
only found on large drone platforms costing tens of millions of
dollars,” said George Matus, CTO, Red Cat. “Their Palladyne Pilot
autonomy software provides our drone systems with generalizable
autonomy that enables a high level of adaptability and performance
in challenging environments, materially reducing the cognitive load
on drone operators and enhancing the operational capabilities and
mission effectiveness of our drone platforms.”
Palladyne AI will join Red Cat at the AUSA conference in booth
330, as well as other joint marketing initiatives throughout the
year. For more information, please visit www.palladyneai.com.
About Red Cat, Inc.
Red Cat (Nasdaq: RCAT) is a drone technology company integrating
robotic hardware and software for military, government, and
commercial operations. Through two wholly owned subsidiaries, Teal
Drones and Flightwave Aerospace, Red Cat has developed a
bleeding-edge Family of ISR and Precision Strike Systems including
the Teal 2, a small unmanned system offering the highest-resolution
thermal imaging in its class, the Edge 130 Blue Tricopter for
extended endurance and range, and FANG™, the industry's first line
of NDAA compliant FPV drones optimized for military operations with
precision strike capabilities. Learn more at www.redcat.red.
About Palladyne AI Corp.
Palladyne AI Corp. (NASDAQ: PDYN) has developed an advanced
artificial intelligence (AI) and machine learning (ML) software
platform poised to revolutionize the capabilities of robots,
enabling them to observe, learn, reason, and act in a manner akin
to human intelligence. Our AI and ML software platform empowers
robots to perceive variations or changes in the real-world
environment, enabling them to autonomously maneuver and manipulate
objects accurately in response.
The Palladyne AI software solution operates on the edge and
dramatically reduces the significant effort required to program and
deploy robots enabling industrial robots and collaborative robots
(cobots) to quickly achieve autonomous capabilities even in dynamic
and or complex environments. Designed to achieve precise results
with minimal training time, limited data sets, and lower power
requirements, compared to current solutions, Palladyne AI believes
its software has wide application, including in industries such as
automotive, aviation, construction, defense, general manufacturing,
infrastructure inspection, logistics and warehousing. Its
applicability extends beyond traditional robotics to include
Unmanned Aerial Vehicles (UAVs), Unmanned Ground Vehicles (UGVs),
and Remotely Operated Vehicles (ROVs). Palladyne AI’s approach is
expected to elevate the return on investment associated with a
diverse range of machines that are fixed, fly, float, or roll.
By enabling autonomy, reducing programming complexity, and
enhancing efficiency, we are paving the way for a future where
machines can excel in tasks that were once considered beyond their
reach.
For more information, please visit www.palladyneai.com and
connect with us on LinkedIn at
www.linkedin.com/company/palladyneaicorp.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding future collaboration and joint
marketing between Palladyne AI and Red Cat, the results of the
collaboration between Red Cat and Palladyne AI, capabilities or
future capabilities of Palladyne AI’s software platform in
particular its compatibility with Teal drones, the benefits of
Palladyne AI’s software platform when used with Teal drones, the
industries that could benefit from Palladyne AI’s software platform
and the applicability of Palladyne AI’s software platform to
different kinds of machines (such as UAVs, UGVs and ROVs) including
Teal’s drones. Forward-looking statements are inherently subject to
risks, uncertainties, and assumptions. Generally, statements that
are not historical facts, including statements concerning possible
or assumed future actions, business strategies, events, or results
of operations, are forward-looking statements. These statements may
be preceded by, followed by, or include the words “believes,”
“estimates,” “expects,” “projects,” “forecasts,” “may,” “will,”
“should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends”
or “continue” or similar expressions. Such forward-looking
statements involve risks and uncertainties that may cause actual
events, results, or performance to differ materially from those
indicated by such statements. These forward-looking statements are
based on Palladyne AI’s management’s current expectations and
beliefs, as well as a number of assumptions concerning future
events. However, there can be no assurance that the events,
results, or trends identified in these forward-looking statements
will occur or be achieved. Forward-looking statements speak only as
of the date they are made, and Palladyne AI is not under any
obligation and expressly disclaims any obligation, to update, alter
or otherwise revise any forward-looking statement, whether as a
result of new information, future events, or otherwise, except as
required by law.
Readers should carefully review the statements set forth in the
reports which Palladyne AI has filed or will file from time to time
with the Securities and Exchange Commission (the “SEC”), in
particular the risks and uncertainties set forth in the sections of
those reports entitled “Risk Factors” and “Cautionary Note
Regarding Forward-Looking Statements,” for a description of risks
facing Palladyne AI and that could cause actual events, results or
performance to differ from those indicated in the forward-looking
statements contained herein. The documents filed by Palladyne AI
with the SEC may be obtained free of charge at the SEC’s website at
www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20241001521464/en/
Palladyne AI Corp PR and Investor Contacts:
Press Contact: PR@palladyneai.com
Investor Contact: IR@palladyneai.com
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